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HSBC star Studzinski switches role

John Bond, the chairman of HSBC, has given a surprise tweak to succession plans, arranging for the bankâ€™s star dealmaker, John Studzinski, to be re-assigned as a special adviser to Stephen Green, the chairman-elect.

HSBCâ€™s investment banking arm has struggled to land the big deals won by rival banks, though last Friday it did achieve the coup of being a joint adviser on the Â£23bn (â‚¬34bn) Arcelor approach by Mittal Steel.

The board is understood to see the shake-up as achieving two goals. It gives Green an outgoing ambassador to keep corporate clients happy. It is also regarded as a sop to Gulliver, who missed out when the chief executive post - soon to be vacated by Green -went to Mike Geoghegan, the UK banking chief.

John Studzinski, one of the architects of HSBCâ€™s push into the investment banking business, is set to give up his executive responsibilities following a hiring spree that has so far failed to deliver meaningful results for the worldâ€™s third-biggest bank.

Studzinski is discussing taking on a senior role with responsibility for maintaining relations with HSBCâ€™s largest corporate clients, according to people with knowledge of talks.

If agreed, the move would be a setback for Studzinski, who joined HSBC from Morgan Stanley three years ago with a remit to help build the groupâ€™s investment banking operations through a process of hiring and organic expansion.